After the meeting, Mr Abbott said he is to receive a report on the Victorian economy and will have more to say before the federal budget in May.

"What we want to ensure is that the people of Victoria can face the future with confidence," the Prime Minister said.

"Sure there have been some shocks. Holden was a shock, Toyota was a shock, Alcoa was a shock.

"But there is a lot of fundamental strength in this state and we need to build on that."

Dr Napthine expressed appreciation for the work being done on Victoria's behalf.

"We are an economy in transition but we are a strong, robust and diverse economy, not just Melbourne and Victoria but our regional areas," he said.

Dr Napthine is seeking increased infrastructure funding and financial help for a job creation package for the Geelong area.

Geelong has been hit by what Opposition Leader Bill Shorten called an "industrial asteroid" following the Alcoa announcement and Ford's declaration that it will close in 2016 with the loss of 600 jobs.

Shell is also looking for a buyer for its oil refinery on Corio Bay, leaving at least 450 staff with an uncertain future.

Another 300 jobs will go when Qantas closes its maintenance facility at nearby Avalon Airport this year.

Industry Minister Ian Macfarlane has already indicated that workers in the region will receive help from a $67 million assistance package announced by the previous Labor government to help Ford workers, plus a further $60 million announced by the Coalition government for Victoria and South Australia after Holden announced the closure of its Australian operations in 2017.

The Federal Government is considering whether to extend its $100 million growth fund to help manufacturing economies transition after the car industry leaves.

In the wake of sustained closures in the manufacturing and industrial sector, the Vice-Chancellor of Deakin University Jane den Hollander says money should be spent attracting new industries that could hire workers with similar skills.

"We've already started to do it with some of our carbon fibre and with our Vic Health investment in the Geelong area," she said.

"There is discussion with the city of Geelong, the university and then with the state and Federal Government about the support packages we put together for these things."